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WEKU
WEKU
Politics
Rafael Nam

Trump's social media company surges in trading debut in a big boost to Trump's wealth

News of Trump Media & Technology Group public trading is seen on television screens at the Nasdaq Marketplace on March 26, 2024 in New York City. At one point, the company was valued at over $9 billion after trading began. (Michael M. Santiago/Getty Images)

Donald Trump's social media venture soared 16% in its trading debut on Tuesday, delivering a windfall of billions of dollars to the former president's net worth. The question now is how soon he can tap into that money.

The surge in shares values the company at over $7 billion, even though it only had over $3 million in sales and lost nearly $50 million through the first nine months of last year.

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